Foreign investors are pulling record sums from Indian shares since October and piling into initial public offerings in search for better returns.

India has become a hotspot for dealmaking, with companies raising a record $28.4 billion from IPOs and primary share offerings this year, as per Prime Database.

In addition to the child, a 19-year-old and 21-year-old were also arrested and they are being held on $400,000 bail.